Palma.—The first fortnight of the summer sales, which began on 1 July, has brought about an increase in turnover for almost half the stores: only 5% report lower takings.
Pimeco, one of the Balearic retail trade associations, say that performance has thus far exceeded expectations. Prior to the sales starting, only 38% of those stores surveyed anticipated improvement: 48% have in fact experienced better sales.
Nevertheless, Pimeco add that 40% of stores had expected higher turnover, attributing lesser performance to lower numbers of customers than had been anticipated as well as an unwillingness to spend.